On 28 November 2018, the European Commission published a communication (the Communication) regarding progress on the Capital Markets Union (CMU). The Communication notes that thus far, only three out of thirteen tabled legislative proposals to form the framework of the CMU have been agreed between the European Parliament and the European Council (the Prospectus Regulation, the Regulations on European venture capital and social entrepreneurship funds, and the Regulation on Simple, Transparent and Standardised Securitisations).

As the European Parliament elections are due in May 2019, the Commission stresses the need for the co-legislators to accelerate the work on the pending proposals and to show the necessary political ambition to make sure that all proposals are completed by the end of the mandate. Moreover, the European Council is invited by the Commission to renew its commitment to the CMU and endorse the efforts to advance progress on the CMU.